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Inverness Graham acquires Kalkomey Enterprises & Outdoor Roadmap

Private investment firm Inverness Graham has acquired Kalkomey Enterprises, as well as its first add-on, Outdoor Roadmap.  

Kalkomey, which closed in December, is the first investment out of Inverness Graham III, a USD283 million fund that was raised in 2015. Founded in 1995 and headquartered in Dallas, Texas, Kalkomey is a leader in online recreational safety education for state required certifications. Using a web-based delivery model, the Company delivers educational content and tests through its proprietary e-Learning platform. In addition, Kalkomey offers value-added SaaS services for states to manage certification records, in-person educational testing elements, and the back-end reporting necessary to receive federal government reimbursement for their education spending.  Outdoor Roadmap, which was acquired in April 2016, provides a complementary offering in the online hunter education market and allows the Company to scale and broaden its offering to provide a more complete software solution to its customers.  Inverness Graham was supported by e-Learning industry veteran, Tom O'Keefe, who has joined the company's board. 

"Inverness Graham found both Kalkomey and Outdoor Roadmap through a proactive search targeting the e-Learning market. Traditional educational certifications are shifting from classroom-based instruction and printed content to web-based digital content and testing. We saw Kalkomey as an opportunity to acquire a market leading provider in an attractive niche segment benefiting from that conversion. Outdoor Roadmap added a highly complementary product offering," says Michael Morrissey, Managing Principal of Inverness Graham. "The combined company has deep domain expertise and is a trusted partner of state agencies for the required certifications in boating and hunting. The company will continue to leverage the Kalkomey technology infrastructure and content publishing capabilities in existing and new verticals."  

Though terms were not disclosed, Twin Brook Capital provided debt financing for these transactions.  Paul Hastings LLP served as counsel to Inverness Graham.

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